FilingReader Intelligence
Zhejiang Shibao invests RMB18m in CITIC wealth product
August 21, 2025 at 11:10 AM UTC•By FilingReader AI
Zhejiang Shibao subscribed to RMB18 million in CITIC Bank wealth management products on August 20, 2025, using idle raised funds.
The investment pushed the company's total exposure to similar CITIC products above 5% of applicable ratios, triggering Hong Kong listing rule disclosure requirements. The board had previously approved using up to RMB80 million of idle funds for cash management to enhance returns.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
HKEX:1057•Hong Kong Exchange
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